Hobbit Films in 07?

TheOneRing.net is a dedicated fansite for Lord of the Rings, and it seems as though they may have scooped some major news regarding the prequel everyone has been waiting for since Return left theaters. A nameless tipster emailed the site, claiming to have just departed New Line's New York studios after "discussing upcoming projects" -- and while there, he or she got an eyeful of New Line's future schedule. (Either this tipster is a relatively important person or New Line just leaves these things laying around the office.) At any rate, the tipster claims to have seen The Hobbit "clearly marked on what looked like July 2007."

So are we nearing the beginning for our next (and final) hobbit film? With Peter Jackson being such a busy fellow, is it fair to assume he's going to make time for a return to Middle Earth? And who gets to be Bilbo this time? Lots of unanswered questions, but perhaps we are on the verge of having a few of them answered. As always, take the anonymous tipster lightly until we get further confirmation, and stay tuned to Cinematical for more updates as they become available.